Fla.’s Housing: Inventory Up, Median Prices Ease

ORLANDO, Fla. — In February, Florida’s housing market reported more inventory (active listings) and moderating median sales prices compared to a year ago, according to Florida Realtors®’ latest housing data.

“Florida’s single-family housing market appears to be reaching equilibrium, with for-sale inventory continuing to rise, median prices remaining relatively flat and mortgage interest rates moderating,” said 2025 Florida Realtors President Tim Weisheyer, broker-owner, Dream Builders Realty and dbrCommercial Real Estate Services in Central Florida. “These trends indicate market conditions for single-family existing homes are becoming more balanced between sellers and buyers, which should help ease affordability constraints.

“On the other hand, ongoing trends in the Florida’s condo-townhouse market, including a 9.7-months’ supply of inventory, show that it’s a buyer’s market, at least at the statewide level. With conditions varying by local markets, the expertise and knowledge that a local Realtor® brings to the table is a priceless resource for consumers.”

Closed sales of single-family homes statewide last month totaled 17,698, down 7% from the February 2024 level, while existing condo-townhouse sales totaled 6,503, down 13% year-over-year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

The statewide median sales price for single-family existing homes in February was $415,000, the same level as the previous year; for condo-townhouse units, it was $315,000, down 3.1% compared to February 2024. The median is the midpoint; half the homes sold for more, half for less.

“Over the past three years, the number of single-family homes coming onto the market each month has generally exceeded the number of homes either selling or being withdrawn from the market each month,” said Florida Realtors Chief Economist Dr. Brad O’Connor. “That means that the number of active listings for sale as of the end of each month –what we call active inventory – has generally been on the rise. With new listings still higher than recent levels and sales trending below recent levels, we should expect that trend to continue into the spring buying season here in Florida.”

He noted that rising inventory is usually a sign that the advantage in the market is shifting away from sellers and more towards buyers, while months’ supply can also be an indicator.

“For February, we reported a 5.3-months of supply for single-family homes, which roughly means the existing inventory at the end of February would be sold in 5.3 months at the 12-month rate of sales,” O’Connor said. “There’s an old rule of thumb that balanced markets that favor neither sellers nor buyers are typically found between five and six months of supply. In truth, the level of months’ supply where you’ll find a balance varies across local markets; but at the statewide level at least, single-family home inventory is currently within the 5- to 6-month band for months’ supply, suggesting that we have moved out of seller’s market territory and into relative balance.”

Statewide inventory last month was higher than a year ago for both existing single-family homes, increasing by 31.6%, and for condo-townhouse units, up 36%. Meanwhile, the supply of single-family existing homes was at a 5.3-months’ supply while existing condo-townhouse properties were at a 9.7-months’ supply last month.

O’Connor added, “Looking at months’ supply for condos and townhouses, it’s pretty clear we are in a buyer’s market, at least at the statewide level, with 9.7-months of supply. Buyers have gained an advantage here, and sellers increasingly will have to concede on price if they want to move their properties. Evidence shows this has been happening over the last seven to eight months, including in February, when the median price for this category was down over 3% compared to a year ago, falling to $315,000.”

To see the full statewide housing activity reports, go to the Florida Realtors Newsroom and look under Latest Releases or download the February 2025 data report PDFs under Market Data.

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